Monday, May 29, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Samsung Electronics Is Considering Adding Second 3D NAND Line in China
New 4GHz Predator DDR4 Memory Debuts at Computex 2017
ARM Launches New Cortex A75, A55 and Mali-G72 Processors to Power AI, VR Mobile Tech
ASUS Presents New ZenBook and VivoBook Laptops at Computex 2017
New Toshiba XG5 of NVMe SSDs are Using 64-Layer 3D Flash Memory
Sharp's President Confirms US Panel Plant Plan
Google to Retire the AlphaGo AI Program
Apple is Building AI Chip for iPhone
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Handset...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, February 01, 2012
Handset And TV Profits Push LG's Results


LG Electronics Inc swung to a profit in the fourth quarter as its latest smartphone model helped its ailing handset unit post a small profit after six consecutive quarterly losses.

The South Korean company today announced fourth quarter 2011 consolidated revenues of KRW 13.81 trillion (USD 12.05 billion) with an operating profit of KRW 23 billion (USD 20 million). Quarter-on-quarter revenue growth reflected strong performance in home entertainment and home appliances with improved operating profit in the mobile and TV businesses.

The LG Home Entertainment company shipped a record high 8.8 million flat panel TVs from October to December, increasing revenues 17.6 percent from the previous quarter to KRW 6.31 trillion (USD 5.5 billion). While quarterly sales declined modestly from the 2010 period, a strong 2011 holiday season and more premium product mix led by CINEMA 3D TV resulted in an operating profit of KRW 150 billion (USD 130.9 million) in the fourth quarter of 2011. Full-year 2011 home entertainment sales were KRW 22.38 trillion (USD 20.2 billion) with operating profit of KRW 423 billion (USD 382 million). For 2012, LG plans to continue strengthening its position in 3D and Smart TVs with a broadened line of TVs with Cinema Screen design and content.

LG competes with Samsung, Sony and Panasonic in flat-screen TVs.

The LG Mobile Communications Company improved its position in the fourth quarter with operating profits of KRW 12 billion (USD 10 million) and sales of KRW 2.78 trillion (USD 2.42 billion) on the strength of premium smartphones such as Optimus LTE (Long Term Evolution). For full-year 2011, the company posted sales of KRW 11.69 trillion (USD 10.55 billion), a decline of 9.9 percent from 2010.

The turnaround was helped by solid sales of its Optimus LTE model, which runs on Google's Android platform and is LG's most popular smartphone with 1 million sold since its October debut. The firm said handset shipments dropped to 17.7 million in the fourth quarter from 21.1 million in the preceding quarter, as it reduced less profitable feature phones.

For 2012, the company plans to focuse on strategic markets with expanded smartphone line-up led by LTE smartphones.

LG trails Nokia and Samsung in handsets.

The LG Home Appliance Company posted record-high quarterly sales of KRW 2.99 trillion (USD 2.6 billion) in the fourth quarter of 2011 with strong growth in Korea, the U.S. and developing countries with more energy-efficient products. New energy efficient appliances being introduced around the world this year are expected to contribute to 2012 revenue growth.

The LG Air Conditioning & Energy Solutions Company reported sales of KRW 680 billion (USD 593 million) in the fourth quarter, essentially flat with the 2010 fourth quarter. An operating loss of KRW 38 billion (USD 33 million) was attributed to negative macroeconomic issues and product mix weakness in developing markets. The company is increasing its focus on high-efficiency air conditioning systems to help drive sales in 2012.

For 2012, LG Electronics is targeting a revenue goal of KRW 57.6 trillion (USD 53.8 billion) with plans to spend KRW 1.6 trillion (USD 1.5 billion) in capital expenditures and to invest KRW 2.6 trillion (USD 2.4 billion) in research and development.


Previous
Next
Nikon Introduces New COOLPIX Digital Cameras        All News        Hirai To become Sony President, CEO in April
PageRank Penalty For Chrome Drops Browser's Share     General Computing News      Hirai To become Sony President, CEO in April

Get RSS feed Easy Print E-Mail this Message

Related News
LG Electronics to Finally Launch LG Pay in June
LG Display to Showcase Latest Displays at SID 2017
LG X Venture Smartphone Will is Built for Adventure
LG X Power2 Smartphone Launches Globally
LG Electronics Gains Some Market Share In the US Smartphone Market
LG Said To Prepare Mini-version of Flagship G6 Smartphone
LG Electronics Sees 10 Percent Jump in Sales and Highest Operating Income Since 2009
LG Display Posts Record Earnings on OLED TV Sales
LG X Power 2 Smartphone Packs A Huge Battery
Google Could Invest 1 tln won into LG Display's OLED Panel: report
LG Electronics Expects Profit Boost From On Healthy Sales Of Appliances and TVs
LG G6 Now Available Worldwide

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .